Word: steepest
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Dates: during 1970-1979
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...Tuesday alone, the Dow dropped a breathtaking 26.45 points, its worst single-session loss since January 1974, when the last recession was pushing the nation into its steepest economic slide since the Great Depression. The very next day, as worried investors around the country hurried to unload their falling stocks, a record 81.6 million shares were sold off on the Big Board in such a headlong rush that the ticker tape reporting transactions and prices fell as much as 63 minutes behind the pace of trading. "This thing is feeding on itself," fretted William LeFevre, vice president at one Wall...
...throughout the country. In just five days, the market dive left investors with some $55 billion in paper losses and sent the Dow Jones industrial average plunging a total of 58.62 points to a week's close of 838.99. In terms of points, that was the Dow's second steepest one-week decline ever; during the week of Oct. 16, 1978, when prices were hammered by news of a sharply falling dollar abroad and worsening inflation at home, the Dow sank by a half point more, but on a much smaller volume of trading. The number of shares that changed...
Last week was one for the record books-literally. From the statisticians at the Labor Department came official confirmation that over the past six months the U.S. has experienced the steepest spiral of inflation it has had in nearly 30 years. Not since the Korean War price explosion of 1950-51 has double-digit inflation gripped the economy so relentlessly for a full half year. But no sooner had Jimmy Carter named his new economic team of Treasury Secretary G. William Miller and Federal Reserve Chairman Paul Volcker than the grim news was out: living costs had spurted...
...period, vs. 1% for the U.S. But the gains have not been without cost, notably a rise in prices. According to the Organization for Economic Cooperation and Development, which monitors trends in the leading non-Communist industrial states, inflation among its 24 member states rose 1.1% in April, the steepest monthly jump in two years...
Nationally, the steepest rises have come in life's necessities: food, clothing, shelter, transportation. Since poor people have less money to start with, they have been squeezed harder than the mad-as-hell middle class and affluent people. In Atlanta, however, housing is an exception. Overbuilding in recent years has held prices down. A three-bedroom house at $54,000 is still far beyond the reach of someone earning even twice as much as $6,191 a year, which is the federally set "poverty level" for a nonfarm family of four. But the average price of a house...